Vinpearl JSC and Vincom JSCamalgamated in January 2012 to establish Vingroup Joint Stock Company.With the mission "To create a better life for the Vietnamese people", Vingrouphas develop
Executive Summary
Vingroup, previously Technocom Corporation, was established in Ukraine in
1993 Technocom had a thriving instant noodle and fast food business from 1993 through the 2000s Vingroup began operations in Vietnam in the early 2000s with two important brands: Vincom and Vinpearl Vinpearl JSC and Vincom JSC amalgamated in January 2012 to establish Vingroup Joint Stock Company.
With the mission "To create a better life for the Vietnamese people", Vingroup has developed a diversified portfolio across several business segments:
In each of its sectors, Vingroup continues to set and lead consumer trends, presenting Vietnamese consumers to a totally new, modern lifestyle with international-standard products and services Vingroup has established a well- known and respected Vietnamese brand and is pleased to be one of the country's leading private businesses
With pioneering aspirations and a long-term investment strategy, Vingroup positions itself as the property developer and retailer in Vietnam, with growing reputation and position on the global economic map and a portfolio of quality products and services.
To create a better life for the Vietnamese people.
"CREDIBILITY - INTEGRITY - CREATIVITY - SPEED – QUALITY –
Building Vingroup's Credibility is a top priority for the company The Group considers Credibility to be a competitive advantage, and it guards it with the same zeal as one would guard one's honor.
Vingroup is completely prepared to carry out its plans and makes every effort to satisfy its obligations, even going above and beyond what customers and partners anticipate, notably in terms of product quality, services, and implementation progress.
Integrity is a key component of Vingroup's business strategy We follow the law to the letter and uphold the highest standards of professional and social ethics.
Vingroup has a customer-centric strategy, prioritizing the interests and desires of its consumers before its own Vingroup endeavors to give the greatest products and services to its consumers, and success is measured by customer happiness.
Vingroup adheres to a customer-service philosophy, taking on projects only when it is sure in its capacity to complete them.
In each of Vingroup's goods and services, creativity is seen as a source of energy and innovation Creativity enables the Group to carry out its idea of "Dare toThink, Dare to Do," which aims to create a learning organization that incorporates new scientific and technical advances into its manufacturing and administration The Group is constantly working to increase its efficiency and improve the quality of its products and services.
Vingroup encourages a "Learning enterprise" development attitude in which employees are not afraid to learn, self-study, and push above their limits.
Their guiding idea is "Speed and efficiency in all activities," and their fundamental value is "Fast Decision – Fast Investment – Fast Deployment – Fast Sales – Fast Change and Quick Adaptation."
According to Vingroup, "glory belongs to those who meet deadlines." Vingroup recognizes the need of speed while maintaining a high level of quality.
Vingroup's mission is to bring together the greatest people to deliver the finest products and services while also contributing to the development of a better society.
Vingroup aspires to build a human capital force that is competent and efficient, with strong ethics and knowledge, and where each member is an expert in his specialty.
Vingroup believes that the Group should resemble a healthy, well-shaped body free of excess fat We hire and keep the best people for each job, allowing each employee to advance in their position or risk being fired if they aren't.
With kindness, compassion, and a humanistic attitude, Vingroup cultivates deep ties with our customers, business partners, colleagues, investors, and society.
We consider our employees to be our most valuable resource, so we create a professional, dynamic, creative, and caring work atmosphere for them, as well as a competitive compensation package and equal development possibilities for all.
Vingroup fosters a corporate culture of "Harmony" anchored in honesty, integrity, and compassion Teamwork, solidarity, discipline, and loyalty are highly regarded within the organization Beyond its commercial objectives, Vingroup embraces corporate social responsibility by harmonizing company goals with contributions to the community, reflecting its commitment to ethical business practices and community engagement.
- VinFast, a subsidiary of Vingroup, is Vietnam's first large-scale automotive manufacturer and will be the country's first to compete at an international car show The company is currently designing and producing world-class innovative automobiles.
VinFast, a Vietnamese automaker with global aspirations, partners with top European firms in design, engineering, and components to create vehicles that adhere to international standards and meet customer expectations for aesthetics, quality, functionality, advanced features, and driving experience.
Situation Analysis
Market Summary
Before Vinfast, there was no local car brand in the Vietnamese market, makingVinfast the first and most well-known Vietnamese automobile brand Vinfast has good information about the Vietnamese market, such as the average income, policy,and citizen demand, because it is operated by Vingroup, a local corporation As a result, Vinfast will be able to launch new goods based on this knowledge.
Macro Environment
Here are some results of the demographic survey 2020
- The total population of Vietnam is 96,208,984 people, of which the male population is 47,881,061 people, accounting for 49.8% and the female population is 48,327,923 people, accounting for 50.2% After 10 years, the population of Vietnam increased by 10.4 million people On average, there are 3.6 people per household, 0.2 people per household lower than in 2009 The Southeast is the most attractive destination for people, followed by the Red River Delta.
- As many as 1.3 million people immigrated to the Southeast region, employing more than two-thirds of the total number of inter-regional residents across the country The urban population is 33,122,548 people, accounting for 34.4% of the total population of the country.
- As a result, we can observe that as the country's population grows, so does the number of households, raising the need for cars ownership to enable family travel In addition, as the population of metropolitan areas grows, so does the desire for car ownership The influx of immigrants, in particular, has increased the client base for Vinfast's products.
2020 is considered to be a difficult and challenging year for the global economy, particularly Vietnam The world economy is expected to enter its deepest recession in history, with major nations' growth rates all plummeting as a result of the Covid-19 epidemic's detrimental effects However, with an expected GDP growth rate of 2.91 percent, Vietnam's economy has maintained its expansion.
Here are some results announced by the Government Statistics Office:
In the general expansion of the total economy, the industrial and construction sector recorded the greatest growth rate with 3.98 percent, adding 1.62 percentage points to the entire growth With a 5.82 percent gain and a 1.25 percentage point contribution, the processing and manufacturing industry continues to play a vital role in driving the economy's development In the service sector, total retail sales of consumer goods and services fell by 1.2 percent in the first half of 2020 compared to the same time the previous year, but subsequently rebounded at a rapid pace It increased by 6.2 percent in the last six months, putting the domestic trade sector up by 2.6 percent for the year.
Thus, we can see that the Vietnamese economy has been severely affected by the
COVID-19 epidemic, but for the auto market, the Vietnamese government has also introduced a lot of supportive policies For example, at the end of June 2020, the Government allows a 50% reduction in registration fees for domestically assembled cars to support people and businesses As a result, the registration fee for "domestic" cars is reduced from 15 million to nearly 300 million, depending on the model and brand.
It is this 50% reduction of the registration fee for "domestic" cars that makes
"foreign" car importers forced to reduce the corresponding price to compete, even with a model that reduces the registration fee up to 100%, equivalent to a decrease from a few hundred million to nearly 900 million dongs helping the Vietnamese auto market in the second half of the year, car sales next month are higher than last month.
Specifically, in September 2020, the Vietnamese auto market achieved sales of 27,252 vehicles, up 32%; October reached 33,254 vehicles, up 22% and November reached a record number of the year with 36,359 vehicles sold, up 9% from the previous month Generally, in the first 11 months of 2020, VAMA member units sold a total of 248,768 vehicles of all kinds, down 14% compared to the same period last year, average monthly consumption of 22,615 vehicles.
Global issues that strongly affect the company's business activities such as Pollution environment: The amount of gas and industrial waste discharged by companies into the outside environment is a matter of great concern The current environmentally friendly car products that reduce emissions are becoming more and more popular and are favored and supported by many people Scarcity of raw materials: Raw materials are increasingly scarce, so for automobile products, the development of new cars running on environmentally friendly fuels is becoming more and more necessary The amount of energy is increasing day by day: so companies in the industry need to find alternative energy sources, operate efficiently, save production costs.
VinFast Lux A2.0 is a 4-door sedan manufactured by VinFast of Vingroup, Lux A2.0 is developed based on the system of the 6th generation BMW 5 Series (2010-2016) This is Vinfast's first sedan, along with the Vinfast Lux Sa2.0 Suv that was first introduced at the Paris Motor Show 2018.
Not only that, this is not an official commercial vehicle, but this model has more or less created a pervasive media effect with the positive feedback of millions of Vietnamese hearts about the pride of the car The first was produced by Vietnamese people.
Lux A2.0 is considered as one of the cars with luxurious design lines from the experienced engineers of Pininfarina Company.
The image of the letter "V" a symbol of Vinfast placed in the middle of the grille is complemented by 2 "V" LED strips on both sides connected to the front turn signals.
In terms of dimensions, VinFast LUX A2.0 has a length x width x height of 4,973 x 1,900 x
1500 mm and a wheelbase of 2,968 mm Ground clearance 150mm Lazang design makes a lot of impression with images that are associated with the 5 ways of flowers or the image of a star to create an eye-catching look with meticulous and meticulous lines.
Overall, the Vinfast Lux A2.0 car is luxuriously designed with a luxurious exterior from the famous Italian design firm Pininfarina Vinfast Lux A2.0 is also the pride of Vietnamese- branded cars.
The cockpit boasts an upscale design with a sophisticated carbon plastic dashboard, intricate metal cladding, and a premium leather interior The Premium version indulges drivers with 12-way electric adjustment for both the driver and passenger seats, while the Standard and Plus versions offer 4-way electric and 2-way mechanical adjustments The cabin is adorned in vibrant orange hues, featuring a prominent 7-inch color screen in the center console, which provides over half of the vehicle's informative and entertainment functions.
• Wifi connection, 4 USB ports, Bluetooth
• Sound system with 8 speakers or 13 speakers with amplifier
• Smart key and push-button start
Engine, operating car Vinfast Lux A 2.0
Vinfast Lux A2.0 uses a copyrighted engine from BMW On the two Lux A2.0 Standard and Plus versions, the 2.0L turbocharged petrol engine, direct fuel injection, delivers a maximum capacity of 174Hp/4500- 6000rpm, maximum torque of 300Nm/1750- 4000rpm. Operation and safety technologies such as Cruise Control, tire pressure sensor, electronic handbrake, Auto Hold, support for downhill departure, lane departure warning, etc are all very smart technologies used on modern luxury car models
Safety assessment of Vinfast Lux A2.0
The safety system of the announced VinFast Lux A2.0 has many modern features equipped such as:
• 7-inch color driver information display
• Emergency belt tension system, force limiter, front seats
• ISOFIX child seat fixing hook (2nd row, outer seat)
• Front and rear parking sensors
• Electronic/automatic handbrake, emergency brake assists (BA)
• Electronic brake force distribution (EBD)
•Assist to begin across the hill
• Automatic door lock function when the vehicle is moving and when leaving the vehicle
• The security of VinFast Lux A2.0 is also enhanced with an anti-theft alarm system and encryption key.
The legal system affecting businesses is increasing: Antitrust law, intellectual property rights, patents will create opportunities for healthy competition among companies in the industry With the current development of consumer protection groups will be a threat to companies as this will increase the position of consumers, forcing companies to take more responsibility for safety products, advertising honestly and with culture political stability is a prerequisite for economic development When formulating a business strategy, it is necessary to consider political factors that are the ruling party's views, goals and social development orientation The degree of socio-political stability is reflected in the people's reaction to the perfection of the legal system, the effectiveness of law enforcement in social life
Competition
In Vietnam, this is a well-known brand.
High-quality, easy-to-repair
Satisfy a wide range of customer categories
Be developed in a really appealing manner
The well-known brand in Vietnam
Long-lasting: use it for a long time.
Safety features include adaptive cruise control, a camera system, and gas savings.
Comfortable: spacious, air conditioning, odorous, radio, etc.
Northern: Small, luxurious, and portable.
Large size in the south.
Organize a variety of maintenance and repair events.
Discounts in the future or for a customer's acquaintance\
VinFast, the automotive brand of VinGroup, will be produced in Vietnam in
2018 and will compete in the urban and mid-range automotive segments VinFast was founded in late 2017 and officially introduced in the globe in October 2018 at the Paris Motor Show in France VinFast's long-term ambition is to become Southeast Asia's premier automobile manufacturer by 2025, with a production capacity of 500,000 automobiles per year and 1 million electric motorcycles.
The vehicle market is brimming with world-famous brands like BMW, Mercedes, Toyota, and Ford Experts describe Vingroup's cars as "high-end, European technology," but the price is "chestnut."
The distinctive feature of "amphibious automobiles" is ideal for Vietnamese settings, but the price of electric motorbikes is considerably more contentious In the first phase, phones ranging from 2.5 to 6.3 million were deemed to be quite nice.
The aforesaid price is due to Vingroup's "3 no" pricing policy, which includes no depreciation, financial costs, or interest, but a commercial loss.
THE MARKET TREND Of VINFAST IS FOLLOWING THE WORLD TREND.
VinFast's brand is upheld via this communication approach.
1 Develop a well-known international brand image
With the goal of producing products of international renown, VinFast picked theParis Motor Show, the most famous exhibition, to launch its brand
2 Promote a sense of national pride
Vietnamese firms have always used the media that has attacked "national pride," and users have been very receptive When the Vietnamese auto business VinFast entered the battle to compete with "big guys" from the West, national pride was also one of its greatest competitive advantages.
3 Communication with high-priced influencers for coverage
Miss Tran Tieu Vy, Queen Hoang Thuy, and model Quang Dai were among the invited guests at the ceremony that debuted VinFast The appearance of David Beckham, which drew 15,837 comments, was very beneficial to VinFast's brand.
VinFast is expected to have more initiatives in the future to improve brand identification in both social media and real life Being a brand may be powerful enough to compete with multinational brands and give Vietnamese people a sense of pride in the worldwide arena
VinFast is the "offspring" of billionaire businessman Pham Nhat Vuong, who developed a Vingroup with an estimated worth of $10 billion USD from a 40,000 USD loan many years ago Vingroup operates in several industries like manufacturing, trade centers, complex housing, resort, education, health, and so on.
At the Paris Motor Show in October 2018, VinFast unveiled the first two versions of its new automobiles to the globe This will be the new automaker's first significant obstacle Vietnamese customers will be able to purchase a VinFast vehicle within a year.
With an impressive 25% annual growth rate, Vietnam's automotive market surpassed 200,000 units in 2017 As a developing economy with a loyal consumer base, Vietnam presents a promising opportunity for car manufacturers VinFast, a Vietnamese automaker, holds an advantage due to its partnership with BMW for engine technology This collaboration positions VinFast as a formidable player in the face of technological advancements shaping the industry.
Concerns over quality deter consumers from purchasing high-value Vietnamese-made goods such as automobiles However, these concerns do not extend to food, beverages, and furniture As a market researcher noted, consumers are more hesitant when it comes to complex and expensive items like cars.
VinFast's first strategy was to concentrate on the home market Automobile sales are predicted to rise sharply in the next years, with GDP growth predicted to be about 6-7 percent a year Even though VinFast's new manufacturing line has adequate capacity to fulfill domestic demand, the company's management are seeking for export potential, namely in Southeast Asia The VinFast facility is being built at a breakneck pace Even when it's pouring outside, workers toil away to keep the first VinFast products on the road: two small cars and one electric vehicle, before the second quarter of 2019, which is still a long way off It's been two years since the project began Vietnam's economy is growing rapidly, according to VinFast data, but per capita income is only around 2,000 USD per year Motorbikes, which are very popular in big cities like Hanoi and Ho Chi Minh City, are a good option for consumers who are still trying to save The income of people in urban areas is much higher than in rural areas, according to Ms Le Thi Thu Thuy, Chairman of VinFast Ms Thuy believes that VinFast's ambition to create and consume 250,000 automobiles is achievable given this considerable disparity.
In reality, 250,000 automobiles per year equates to 38 automobiles every hour, which is a rather low amount by global standards According to VinFast's CEO, the company can increase capacity to 60 vehicles per hour when needed, which is in line with industry standards.
As a result, the value system that VinFast has developed from its objectives does not appear to be limited to a single vehicle It is the worth of believing that Vietnamese businesses are capable of leading the global production chain with the help of large names in the industry It is also the worth of wishing to contribute to the development of domestic businesses, thereby generating momentum for the country's economic growth.
According to BMI Research, from 2017 to 2021, Vietnam and the Philippines will be the two fastest-growing vehicle manufacturing markets in Southeast Asia.
Both the Philippines and Vietnam are predicted to have economic growth rates of more than 6%, making them two of the world's fastest developing countries.
Over the past four years, urban consumers in ASEAN countries have consistently shown a significant intent to purchase vehicles, with an average of 25% Specifically, Vietnam has exhibited a notable increase in recent years, with the proportion of urban consumers intending to acquire vehicles reaching over 15% in 2016 and 2017, surpassing the average in the region and outpacing other ASEAN nations such as the Philippines, Indonesia, and Thailand.
Car sales in Vietnam surged dramatically from 2013 to 2016, according to official data,albeit they dropped from the beginning of 2017 to the end of 2017 According to FTCR,the reason for the slowdown is that Vietnamese customers are deferring auto purchases until 2018, in order to wait for the government to reduce the import tax from otherASEAN nations from 30% to 0% According to FTCR, auto sales in Vietnam would grow starting in 2018.
SWOT Analysis
- Consciousness: Having a certain level of awareness as a result of Vingroup.
- Solid financials: Ensure that the marketing mix tactics run smoothly and according to plan.
- Vingroup Ecosystem: Marketing techniques are aided by the use of VinID and Adayroi.
- Reputation: Vingroup is renowned for being a leader in the real estate business, therefore clients will be wary of Vinfast's quality.
- Limited product line: Having only joined the vehicle market last year, the product line will be limited.
- Inferior brand: Because customers do not appreciate the brand, Vinfast is unable to charge the same rates for goods and services as its competitors.
- Metro: Traffic congestion will be alleviated thanks to the new infrastructure.
As a result, there is a significant growth in the demand for driving an automobile.
- The average citizen's salary rises ( 20 percent ).
- The first Vietnamese car: one of Vinfast's advantages is that we don't need to spend money on promotion to introduce new items.
- Imported automobiles from Asia are tax-free => low-cost imported automobiles are on the rise in 2019.
- Metro: an alternative mode of transit that directly competes with existing modes of transit.
- Pollution: There is no environmental solution in Vinfast's new goods.
Product Offering
The Vinfast Lux A2.0 is a smart vehicle with a complicated design The sense of harmony and proportion is unsurpassed, from the aircraft-like hood to the traditional cab rearward to the enormous wheels and tires.
DESIGN CHOSEN BY ITS PEOPLE
A automobile created particularly for Vietnamese users and voted on by them.
Lux A2.0 has an extremely current and timeless appeal thanks to a mixture of muscular structure and tight lines.
A stunning and world-class design that is also surprisingly flowing, evoking theVietnamese environment and culture.
VDSC anticipates the automobile retail business to improve in 2019, although the market will become more competitive, according to Vietnambiz (https://vietnambiz.vn/doanh-nghiep-ban-le-o-to-da-tang-truong-se-tro-lai-trong-
2019-115720.htm) The anticipation of lower import taxes from ASEAN customers resulted in a drop in automotive purchasing power in 2017 Due to severe constraints imposed by Decree 116, the sector continues to confront a supply shortfall in 2018
Despite increasing demand, the overall sales of the whole market in the first ten months of 2018 are still equal to the same period last year, according to the latest analytical report of Viet Rong Securities Joint Stock Company (VDSC).
However, most importers were able to fulfill government quality, technical safety, and emission criteria in the latter months of 2018 VDSC predicts that the automobile retail business will improve in 2019, but that the market will also become more competitive.
Automotive supply is expected to rebound strongly in 2019
Importing automobiles was impossible in the first seven months of 2018 due to Decree 116's restriction on type certificates of quality (VTA) The supply of imported cars fell by nearly 16 percent in the first eleven months of 2018.
However, in the final months of 2018, supply began to improve as most exporting countries' governments adhered to the decree's requirements.
As a result, VDSC anticipates that the recovery will continue in the coming months,with CBU supply in 2019 rising dramatically from 2018 lows On the other hand,government regulation will put a stop to expansion.
Automobile purchasing power remained high
Due to a temporary halt in automobile imports during early 2018, supply is predicted to fall short of robust market demand Consequently, consumers face delays of two to three months in receiving their purchased vehicles, highlighting the potential supply-demand imbalance that could impact the automotive sector throughout the year.
Many clients agreed to put down a deposit in early 2018 and get the automobile in early 2019 Furthermore, the vehicle retail business in Vietnam still has a lot of space for expansion.
Critical Issues
- Because Vinfast is the first Vietnamese vehicle brand, it must be very cautious to safeguard its image, which also represents Vietnam;
- As a result of the tax benefit, the price of Vinfast goods must be set at the same level as worldwide automobiles of comparable quality.
- Ensure that the initial impressions of customers are exceptional in order to boost Vinfast's reputation Ensure that the initial impressions of customers are exceptional in order to boost Vinfast's reputation.
Marketing Strategy
Market Demographics
Vinfast's customers are defined by the following geographic, demographic, and behavioral characteristics:
Geographics: In Vietnam, concentrate on the major cities.
Age: Older than 30 years old
Family size Available to all family sizes
Income: High Class (Over 50m/month)
Psychographic: Vinfast's vehicle is suited to the personal lifestyle of those who like sophisticated, world-class automobiles while yet retaining the pride of a Vietnamese brand at a competitive starting prices.
- Vinfast products are ideal for consumers who often use cars due to their low cost and ease of maintenance.
- People that drive a car on a regular basis will benefit from the volume consumption.
- Vingroup's brand loyalty consumers are Vinfast's potential consumers.
Mission
VinFast is a part of VinGroup (Vietnam's largest private company), but its aim is more than just commerce and commerce According to the Ministry of Industry andTrade, a nation with a population of more than 50 million people must have its own automobile brand Vietnam's officials have also said several times that the country need a national automobile brand As a result, the creation of VinFast is the wish of both political system and series of support policies not only for VinFast but also forVinGroup.
Marketing Objectives
- Gain a portion of the worldwide market
- Vinfast is becoming more well-known, but it does not yet require a sales plan.
Financial Objectives
Increase the profit margin to 1% to 2% each quarter Maintaining product R&D budgets, keeping quarterly profit at 10%, and promoting products in the media during the quarter because it is the first product line about Vietnamese cars In the first three years, economic growth will double, resulting in the creation of new items.
Target Market
Vinfast aims to target individuals over 30, with a monthly income exceeding $50 million, regardless of gender This demographic is characterized by financial stability and a focus on family life, making them prime candidates for automobile purchases They prioritize personal well-being and family stability, leading them to seek vehicles that align with their aspirations for a comfortable and secure lifestyle.
Gender: Unisex Age range: 30 to 50 years old
Monthly income: more than 50 million VND
Gender: Unisex Age: Over 50 years old
Monthly income: more than 50 million VND
Geographic Vietnam's major cities Vietnam's major cities
They utilize Vinfast goods for personal, family, and other purposes • They seek to enhance the quality of their lives
They wish to purchase a high- priced item.
They want to demonstrate their advantage.
There aren't many individuals in their family.
They purchase items for themselves or their youngsters.
They devote a significant amount of effort on locating high-quality products, which gives them a sense of security.
Boost their status and quality of life
Updates are usually made in the news.
Improve their status and quality of life.
Positioning
Vinfast opted to situate itself as a Vietnamese vehicle line and create by Vietnamese people for the first time, demonstrating the vigor of the Vietnamese character Vinfast produces world-class automobiles with a distinct Vietnamese identity.
“We have revolutionized the way traditional design is done by asking the people of Vietnam, our first prospective consumer, to be intimately involved in the automotive design process from the start." - According to Vinfast.
Lux A2.0 will be positioned by Vinfast as a high-end product that is still relevant This positioning will determine the value of Vinfast products as well as the market niche in which Vinfast will focus Furthermore, Vinfast advertises itself as a vehicle brand forVietnamese people, giving the impression that the Lux A2.0 is a car for Vietnamese people as well, with a reasonable price and great quality.
Strategies
Vinfast and Lux A2.0 are both new to the Vietnamese market, as well as the rest of the world As a result, the initial phase in the marketing plan will be to raise awareness To begin, Vinfast will publish reservation prices that are significantly lower than the actual pricing This will draw attention to our target clients while also expanding our consumer base At the same time, Vinfast launched the official Lux A2.0 website, which contains a wealth of information It will be created with the goal of providing information to customers as fast and readily as feasible This combination will meet customers' instant desire for information in order to raise awareness Vinfast will then make use of social media to update the commercial version's composition using media such as social networks, online magazines, online newspapers, etc The level of consciousness rises once more.
Advertisements will be the second technique of marketing Lux A2.0 will be published as a commercial version with an official pricing after it has gained enough renown Because Vinfast has to update the pricing and underline that the Lux A2.0 is available, advertising now is the best method.
Finally, Vinfast will use a combination of three strategies: sale promotions, direct marketing, and public relations The reason for this is Lux A2.0's life cycle Lux A2.0 has entered the Growth phase, which means it's time for Vinfast to take money back. Because this is a brief period of time, using three techniques at once will drive the sale as high as feasible and as quickly as feasible.
Marketing Program
Focus on using techniques like PR, internet marketing, and direct marketing to promote advertising and raise awareness.
The first purchase price (pre-order) is 900 million VND; after March 2019, the price will return to the baseline price of 1.366 billion VND, with a cheaper price when purchased through Adayroi.com.
The Audience applauds Vingroup's carmaker's "3 no" price strategy to help customers (no depreciation, no financial costs and no interest)
Currently, VinFast is establishing a countrywide distribution network with 15 product showrooms, 400 selling outlets, and 22 authorized dealers selling electric motorcycles across the country VinFast is also developing a unique service ecosystem, which will include service complexes, charging stations, customer care center systems, and product warranty and repair sites When electric motorcycles are released onto the market.
- Digital marketing (website, Facebook and Google ads, SEO, etc.) has a budget of
75 billion VND from January to December 2019.
First quarter: from January to March in 2019
We need to display over 9 notable new papers, online news, and new papers for trades and economics in book arcticals => Budget: VND 200 billions
Second quarter: from April to June in 2019
KOLS: Vinh Thuy, Noo Phuoc Thinh, Thuy Tien - Cong Vinh, Cong Phuong, Tran Thanh, Quang Dai, Miss Vy Vy=> budget: 10.5 billion VND Event inaugurated in Vinhomes Hai Phong (April 6th - April 7th) and Landmark HCMC for 2 days (April 13th - April 14th), invited KOLS: Vinh Thuy, Noo Phuoc
Creating posters and billboards in residential neighborhoods, wealthy homes, business centers, and luxury apartments such as the Vincom region, as well as a shopping mall => budget: 10 billion VND
Need to create some TV and Youtube advertisements => budget: 30 billion VND
Third quarter: from July to September in 2019
Budget: 50 million VND for direct marketing to clients having a VIN ID.
Budget: 30.5 billion VND for advertising on planes, television, and newspapers.
Fourth quarter: from October to December in 2019
To foster customer loyalty, Vin arranges a special appreciation event exclusively for their esteemed clientele Invitations will be meticulously tailored to each customer's financial means, ensuring the event is accessible to all This grand occasion will feature the participation of renowned KOLs such as Quang Dai and Miss Tieu Vy, further amplifying the event's impact and creating a truly memorable experience for Vin's valued customers.
After 6 months of ownership, call for car maintenance.
Send birthday greetings and presents on special occasions like birthday, March8th and October 20 th ….
Marketing Research
Vinfast began conducting surveys of consumers who had used the product as well as learning about the wants of new customers after a time of product introduction to be able to renew designs and improve product quality.
Financials
Expense Forecast
Departme nt a1 Marketing plan completion
Vo Quang Hue manage outsour ce
Marketing a3 News paper and online news
Marketing Offline Advertise on the TV and Youtube
Advertising on aircraft, television, newspapers
Controls
Implementation
The key marketing programs are identified in the milestones that follow.It's critical to complete each task on time and within budget.
Contingency Planning
The event did not have the desired effect; few customers attended, and there was no lasting impact.
Already have counterfeit customers, who book news and boost SEO illegally.